Essentially these are:
• make a business decision about whether to stay in the SMSF space or get out
• stay in but refer clients to a financial adviser
• become licensed as an authorised representative under an AFSL holder
• apply to ASIC for a limited or a full licence
• use a combination of a limited licence and referring clients for advice outside the scope of the limited licence

Much of the early discussion and focus has been on becoming licensed – either with a limited licence or as an authorised representative.

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